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University of Wisconsin to explore the business of hemp

A University of Wisconsin economist says he wants to help farmers that are exploring opportunities in growing hemp. Paul Mitchell with the University of Wisconsin says, “We’re actually thinking of doing the Renk Agricultural Forum next January, in 2020, looking at the business of hemp in the state. It’s topical, it’s hot, and you want to be at the forefront of things and not bringing up the rear.”

Mitchell tells Brownfield there are plenty of efforts going into the agronomy side of hemp, but people need to know more about the business side of growing this crop. “I’m worried, and this is what happens when people get over-excited and stuff, and are they just blowing their money, so just a little rationality and make sure we’re making wise decisions without missing opportunities.”

Wisconsin had its first legal hemp growing season a year ago with 250 growers and about 100 processors.  More than 14-hundred farmers applied for 2019 hemp licenses along with more than 700 hemp processors.

The Renk Agribusiness Institute at UW-Madison hosts the Agricultural Outlook Forum every January.  Dairy consolidation was their focus in the 2019 event.